PROBLEM 3 For each of the following, determine the missing amounts Sales COGS Gross Profit Operating Expenses Net income 1. P100,000 P25,000 P10,000 2. P95,000 P120,000 P80,000 Answers: 1. COGS, ; Gross profit, 2. Sales, ; Operating expenses,
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- Multiple-Step Income Statement and Profit Margin Refer to the list of income statement items in Problem 2-6. Assume that Shaw Corporation classifies all operating expenses into two categories: (1) selling and (2) general and administrative. Required Prepare a multiple-step income statement for the current year. What advantages do you see in this form for the income statement? Compute Shaws profit margin. Comment on Shaws profitability. What other factors need to be taken into account to assess Shaws profitability?1. What are the total Expenses under the single-step income statement? a. 389,816 b. $85,710 c. 856,589 d. $115,710 2. What is Net income? a. $ 85,710 b. $505,526 c. $972,299 d. $115,710 3. What is the other expenses? a. 18,500 b. 10,799 c. 16,198 d. 30,000Solve for the unknown... Formula= income minus expenses plus Comprehensive income is equal to net income or net loss 1. Service income. ???Expenses (P10,000) Net income. P25,000 2. Service income. P35,000 Expenses. (P15,000) Net income. P20,000 Other comprehensive income. P5,000 Comprehensive income. ????
- If the gross profit is P5,000 and the net profit is 25% of the gross profit. What are the expenses?a. P3,750b. P1,250c. P4,150d. P6,250(in millions) Net Income Total Assets Total Liabilities Total RevenuesExpedia $ 723 $ 15,504 $ 10,574 $ 6,672Priceline 2,551 17,421 8,625 9,224How would I figure out the net profit margin for theseQuestion: 1) Determine the profit/loss figure from the information given below: Sales : $90 000 cost of goods sold : $30 000 other expenses : $65 000 Total Assets : $10 000 required: please answer this question by determining the correct profit/ loss figure from the information above.
- Q1: Use the following multi-step income statement of Ancho Company to prepare a single-step version. Income Statement For the Year Ended December 31, 2022 Sales Sales revenue........................................................................ $98,000 Less: Sales returns and allowances .................................. 2,000 Net sales ............................................................................... $96,000 Cost of goods sold................................................................. 42,000 Gross profit................................................................ 54,000 Operating expenses . 14,000 Income from…Calculate 1)COGS 2)Gross profit 3)operating profit 4)Net profit Actuals/Omani Rial/Audited Income Statement - Nature of expenses Standalone Standalone 01/01/2022-31/12/2022 1/01/2021-31/12/2021 PROFIT OR LOSS CONSOLIDATED AND SEPARATE PROFIT OR LOSS Revenue 7,343,685 3,307,555 Other income 7,139 17,983 Cost of material consumed and goods sold 898,217 519,320 Service expenses 1,076,279 818,220 Employee benefits expense 2,858,002 2,250,013 Depreciation, depletion and amortisation 920,457 921,866 Other operating expenses 1,140,966 653,382 Royalty expense 235,277 86,250 Other gains (losses) 17,477 - Profit (loss) from operating activities 239,103 (1,923,513) Finance income 184,252 120,070 Finance costs 183,750 123,339…QUESTION 22 Which of the following is an incorrect statement? Revenue - Operating Income = Gross Margin Revenue = Price * Qty sold or TR = P*Q EAT = EBT - Taxes Income - Expenses = Operating Income Revenue - CGS = Gross Profit
- Question C5 Majan Ltd income statement for the year ended 31st Dec 2020 and the balance sheets as at 31st Dec 2009 and 2019 are as follows: Income statement OMR in million Revenue 312 Cost of sales (177) Gross profit 135 Distribution expenses (36) Administrative expenses (15) 84 Rental income 14 Operating profit 98 Interest payable (13) Profit before taxation 85 Taxation (18) Profit for the year 67 Balance sheet as at 31st Dec 2020 and 2019 2020 2019 OMR in million OMR in million Non – current assets Property, plant and equipment Land and buildings 155 155 Plant and machinery 157 163 312 318 Current assets Inventories 18 21 Trade receivables 73 70 Current liabilities…Required A Required B Required C Compute RSB&T's operating profits. Operating profit Compute the profit from Customer A and Customer B, assuming that customer costs are based only on deposits. Interest costs = {{0.5:#,##0.00}} percent of deposits; operating costs are 4 percent (= $19,500,000/$487,500,000) of deposits.(Do not round intermediate calculations. Round your answers to 2 decimal places.) Profit Per Customer Customer A Customer B Compute the profit from Customer A and Customer B, assuming that customer costs are computed using the information in the activity-based costing analysis. (Do not round intermediate calculations. Round your answers to 2 decimal places. Loss amounts should be indicated by a minus sign.) Customer A Customer B Sales revenue Interest on deposit Total operating cost Customer…3-17 During the current year, XYZ Company increased its variable SG&A expenses while keeping fixedSG&A expenses the same. As a result, XYZ’s:a. Contribution margin and gross margin will be lower.b. Contribution margin will be higher, while its gross margin will remain the same.c. Operating income will be the same under both the financial accounting income statement and contributionincome statement.d. Inventory amounts booked under the financial accounting income statement will be lower than underthe contribution income statement.
